Pharma & Biotech
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BioTelemetry Company With a Warehouse in Linwood, Sells for $2.4 Billion
A Netherlands-based medical equipment maker is paying $2.4 billion for Malvern-based BioTelemetry Inc., with warehouses in Linwood, because of it its stay-at-home heart monitors, writes Josephn N. DiStefano for The Philadelphia Inquirer. Royal Philips, 50 times the size of BioTelemetry, sees a big future in the wearable Holter heart sensors, BioTel monitors and other devises…
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Second Medical Marijuana Dispensary in the County Opens in Upland
A new marijuana dispensary has opened in Upland Borough, writes Pete Bannan for the Daily Times. Verilife-Chester is the second dispensary in the county, joining AES Herbology Dispensary in Morton. They opened in May 2019. The dispensary sits between Great Wall Chinese Restaurant and G&G Pizza in the Upland Center, 875 Upland Ave. It’s aiming…
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Radnor Pharmaceutical, Marinus, Plans Stock Sale This Week
A Radnor pharmaceutical company specializing in new therapies for rare seizure disorders is raising $70 million through a public stock offering this week, writes John George for the Philadelphia Business Journal. Marinus Pharmaceuticals will be selling 5 million shares at $14 per share. A 30-day option also allows an additional purchase of 750,000 share of…
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NeuroX in Radnor Tests Older Drug That Could Prevent COVID-19 Respiratory Failure
NeuroRX in Radnor and Wilmington is revitalizing a drug shelved 20 years ago that now shows promise in preventing respiratory failure for patients with COVID-19, writes Queen Muse for phillymag.com. Jonathan and Daniel Javitt founded NeuroRX in 2015 to build on existing effective therapies, bringing new treatments to market more quickly and cheaply. NeuroRX and…
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Glenolden Property Used as a Research Lab Sold to Spark Therapeutics for $6 Million
A Glenolden property once used as a research laboratory for the University of Pennsylvania has been snatched up by Spark Therapeutics for $6 million, writes Natalie Kostelni and John George for Philadelphia Business Journal. Penn vacated the 17-acre vivarium and lab at 500 S. Ridgeway Ave.in 2013. The vivarium totals 40,000 square feet. The property’s…
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Mobilion in Chadds Ford Prepares Medical Product Launch, Doubles Workforce
Mobilion Systems in Chadds Ford has raised $35 million to launch its first product based on its patented SLIM technology that makes it more efficient to identify molecules in the treatment of disease, writes John George for Philadelphia Business Journal. The funds will build a commercial team to work on launching the company’s first product,…
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Medical Marijuana Industry in Pennsylvania Thriving During Pandemic
The Pennsylvania medical marijuana industry is booming, as evidenced by the expansion of marijuana cultivator Agri-Kind in Chester and other marijuana facilities around the state, writes Alex Rose for the Daily Times. The overall market, with $1.3 billion in sales, has doubled since February. Sales from growers and processors to dispensaries are at $528 million…
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Philadelphia Region Man Tapped to Lead President’s Coronavirus Vaccine Effort
Moncef Slaoui, a former executive at GlaxoSmithKline, which has a research facility in Collegeville, has been tapped to lead Trump’s effort to produce and distribute a COVID-19 vaccine before the end of the year, writes Zeke Miller for The Philadelphia Inquirer. Slaoui, a Montgomery County resident, will lead “Operation Warp Speed,” the administration’s push to…
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Malvern’s Endo Finds New CEO, a Former Widener College Football All-American, from Within
Endo International, the Dublin-based pharmaceutical company that has its U.S. headquarters in Malvern, has found its new CEO in Blaise Coleman. The Widener University graduate is currently the company’s executive vice president and chief financial officer, a role he has been in for the last four years, writes John George for the Philadelphia Business Journal.…
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Newtown Square company Opens Central Pennsylvania Medical Marijuana Dispensary
Ilera Healthcare, headquartered in Newtown Square, is opening a 4,000 square-foot medical marijuana dispensary in East Lampeter Township, writes Daniel Urie for pennlive.com. The company expects to employ 20 individuals, including pharmacists, wellness associates and security workers. In August, Toronto-based TerrAscend Corp. announced plans to acquire Ilera Healthcare. Pennsylvania legalized medical marijuana in 2016, allowing…
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Ridley Park Couple Celebrate Their Son’s ‘Miracle’ Birth Through a Transplanted Uterus
A Ridley Park woman brought home her two–month-old son Thursday, a baby that grew inside a womb transplanted into her more than a year ago at the Hospital of the University of Pennsylvania, writes The Philadelphia Inquirer. Jennifer and Drew Gobrecht call their son, Benjamin Thomas, “a perfect miracle.” Jennifer Gobrecht has a congenital disorder…
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Ridley Park Couple Celebrate Their Son’s ‘Miracle’ Birth Through a Transplanted Uterus
A Ridley Park woman brought home her two–month-old son Thursday, a baby that grew inside a womb transplanted into her more than a year ago at the Hospital of the University of Pennsylvania, writes The Philadelphia Inquirer. Jennifer and Drew Gobrecht call their son, Benjamin Thomas, “a perfect miracle.” Jennifer Gobrecht has a congenital disorder…
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High school Girls Explore College, STEM Careers at Penn State at the Navy Yard
Penn State Brandywine is doing everything it can to give high school girls opportunities to pursue STEM careers, writes Michael McDade for Penn State. On Nov. 25, about 100 high school girls from the Greater Philadelphia area visited Penn State at the Navy Yard for a college and career event, part of the campus’ STEM…
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Pentec Health Closing Boothwyn Site, Laying Off 73 Employees
A Boothwyn manufacturing site for Pentec Health, a compounding and specialty pharmacy company, is laying off 73 employees and closing, writes John George for Philadelphia Business Journal. The job cuts, effective Jan. 4,, were disclosed in a Worker Adjustment and Retraining Notification notice the company filed with the Pennsylvania Department of Labor and Industry. A…
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Chadds Ford Medical Device Firm Developing Instruments That Give Better Images of Disease Molecules
Mobilion Systems, Inc. in Chadds Ford is developing instruments that can identify molecules for diagnosing and treating diseases, writes John George for the Philadelphia Business Journal. The life sciences company has raised $15.4 million in series A financing. It plans to use the funds to advance the development of its patented ion mobility separations technology.…
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Washington Post: DEA Database Shows 164 Million Prescription Pain Pills Found Their Way to Delco
From 2006 to 2012, there were enough prescription pain pills in Delaware County to provide 42 pills per person per year, reported the The Washington Post. In those seven years, there were 164,134,934 prescription pain pills supplied to Delaware County. A Drug Enforcement Administration database that tracks the path of every pain pill sold in…
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Medical Marijuana facility Opens in Chester With the Promise of 100 Jobs
Chester officials celebrated the opening of Agri-Kind, a medical marijuana facility on Broomall Street with a ribbon cutting Saturday, writes Colin Ainsworth for the Daily Times. “This day makes a huge milestone in the growth of our organization, and the growth of the redevelopment of Chester,” said Jon Cohn, CEO of the Exton-based Agronomed Pharmaceuticals,LLC,…
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Pharmaceutical Business Sale Means Sharon Hill Plant Closing, 35 Jobs Eliminated
Acro Pharmaceutical Services is eliminating 35 positions in Delaware County next month as a result of the closure of its plant in Sharon Hill, writes John George for Philadelphia Business Journal. Earlier this month, Acro’s parent organization, Premier of Charlotte, N.C., agreed to sell its specialty pharmacy business to a CVS Health subsidiary, ProCare Pharmacy,…
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